Axos Financial (AX) EVP Michael Watson Exercises RSUs; 1,583 Withheld

What Happened

• Michael James Watson, EVP and Head of Axos Securities at Axos Financial, had restricted stock units (RSUs) vest on Sept. 15, 2026. The vesting converted 3,174 RSUs into common shares valued at $92.68 each (total value ≈ $294,166). The company withheld 1,583 shares to cover taxes (value ≈ $146,712), resulting in 1,591 net shares delivered to Watson.
• On the same date he also received a new grant of 1,900 RSUs under the company's 2014 Stock Incentive Plan (these are derivative awards, reported with $0 immediate purchase price).

Key Details

• Transaction date: 2026-09-15; Form 4 filed 2026-09-16 (timely).
• Vested/converted: 3,174 RSUs → 3,174 shares at $92.68 each (total ≈ $294,166).
• Tax withholding/net settlement: 1,583 shares withheld by issuer (value ≈ $146,712).
• Net shares received: 1,591 (3,174 vested − 1,583 withheld).
• New award: 1,900 RSUs granted on Sept. 15, 2026 (reported as derivative grant, $0 exercise price).
• Relevant footnotes: Vesting schedule is one‑third annually; RSUs include dividend equivalents; shares withheld represent tax withholding/net‑settlement.
• Shares owned after the transaction: not specified in the filing.

Context

• This was an RSU vesting and net‑settlement (not an open‑market buy or sale). The RSUs converted into shares and some were retained by Axos to cover taxes — a common, administrative transaction.
• The new 1,900 RSU grant is an equity award (not an immediate cash purchase) and vests per the company plan; such grants are compensation-related and not direct market sentiment signals.